The FTC said on Friday that the two companies had agreed to divest some U.S. assets to settle its charge that their proposed $4.2 billion merger would likely harm competition.

HeidelbergCement and Italcementi, the world's second and fourth largest producers of cement, agreed to divest a plant in Martinsburg, Virginia, and up to 11 cement distribution terminals in six other states.

"The divestment process for the assets in U.S. has already started and significant interest has already been recorded," HeidelbergCement said on Sunday, adding that the merger was expected to be completed in the second half of this year.